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Managerial economics is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units to assist managers to make a wide array of multifaceted decisions.
Strategic management tools. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
An economic strategist is a person who can create a sustainable commercial advantage by applying innovative and quantitative ideas and systems at a sell side financial institution. A political strategist is a multi-discipline strategist who works within political campaigns.
Good strategic leadership practices, with the right balance of the analytic dimension and the human dimension and the discipline and commitment to see the process through during strategy formulation and implementation can be a strong driver to take the “we/they” line much deeper into the organization.
Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes. [1]
These managers manage the work of low-level managers and may have titles such as department head, project leader, plant manager, or division manager. Top managers are responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization.
Managerial Role in Strategy Making Lower-level managers have a voice in strategy-making, as well as greater latitude to respond opportunistically to developing conditions. Senior executives obtain the needed information from lower-level managers, and then use it to create a plan which is, in turn, disseminated to managers for implementation ...
A key strategic talent required when applying best practice to organizations is the ability to balance the unique qualities of an organization with the practices that it has in common with others. Good operating practice is a strategic management term.